A sexual position where a person squats onto a cock with their feet planted firmly on the ground and proceeds to lift themselves up and down using solely leg power. So named because of the visual similarity to the excercise - squats. This position works best if the man (who's lying on his back) doesn't move too much. Let the cock squater do all the work.

Wow, that dancer has real strong legs...I bet she'd be great at cock-squats.

Fucking with the woman on top and squatting on the man's cock. Knees are off the bed and actual squats on done up and down on the cock. Hands hold the top of his shoulders for balance and leverage. Excellent cardio workout, great for the abs, quads, glutes and she controls the pace for her orgasm.